In short, Bitcoin isn't for everybody. The problem is that there are so many people who jump right into it without doing a quick due diligence. Especially during a bull run when Bitcoin is all over the news highlighting its price increase, many start buying without understanding anything.
One thing you're missing, however, is the responsibility that accompanies a Bitcoin investment. To invest in Bitcoin is to be your own bank. That requires you to at least understand how keeping Bitcoin is properly done. If you don't want to spend time and effort understanding wallets and private keys and whatnot, Bitcoin is also not for you.
Bitcoin is not for everybody for a fact and that's because not everyone can be able to take the losses and be able to afford investing in Bitcoin but do you also know that there are people who are Bitcoin and experts today that started with very little money? I agree with the Op in the opinion that some people doesn't have the emotional strength to lose their money and still remain confident but the other point that not been able to afford Bitcoin should also be a discouraging factor for an upcoming Bitcoin enthusiast I don't think is valid because with determination, someone can start earning money on crypto without investing a dime and then use the proceeds to invest in Bitcoin.